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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 09 APR 2019

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Precious Metals Preview: COMEX Gold Breaks Above $1300 Mark.
COMEX Gold futures witnessed supportive moves as global equities saw a rather slow start to the week. The yellow metal broke above $1300 per ounce and also benefited from firm global crude oil prices. Global equities paused after recent gains as traders eyed a critical Brexit summit this week. Indian Gold demand is also expected to perk up following the recent decline in prices owing to the appreciation in Indian Rupee. The metal currently trades at $1302 per ounce, up 0.12% on the day. The metal hit the highest levels in last one and half weeks yesterday. MCX Gold futures are currently trading at Rs 32210 per 10 grams, up 1% on the day.

Energy Preview: Crude Sees Excellent Speculative Buying.
Large energy speculators added to their bullish net positions in the WTI Crude Oil futures markets again last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 481,361 contracts in the data reported through Tuesday April 2nd. This was a weekly gain of 32,742 net contracts.

Base Metals Preview: Copper Speculative Position Stays Bullish For Eight Straight Weeks.
Large metals speculators added to their bullish net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 4,556 contracts in the data reported through Tuesday April 2nd. This was a weekly increase of 2,614 net contracts.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : BULLISH
RESIST 2: 32500
RESIST 1: 31300
SUP 1: 31900
SUP 2: 31700

CS SILVER (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 38400
RESIST 1: 38200
SUP 1: 37800
SUP 2: 37500

BASE METALS
CS COPPER (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 458.00
RESIST 1: 455.00
SUP 1: 446.00
SUP 2: 441.00

CS NICKEL (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 934.00
RESIST 1: 926.00
SUP 1: 911.00
SUP 2: 904.00

CS ZINC (APR) OVERVIEW:
TREND : BULLISH
RESIST 2: 230.00
RESIST 1: 229.00
SUP 1: 227.00
SUP 2: 226.00

CS LEAD (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 140.00
RESIST 1: 139.00
SUP 1: 138.00
SUP 2: 137.00

CS ALUMINIUM (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 149.00
RESIST 1: 148.00
SUP 1: 146.00
SUP 2: 145.00

ENERGY
CS CRUDE OIL (APR) OVERVIEW:
TREND : BULLISH
RESIST 2: 4560
RESIST 1:4520
SUP 1: 4410
SUP 2: 4340

CS NATURAL GAS (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 193.00
RESIST 1: 191.00
SUP 1: 187.00
SUP 2: 184.00

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